Exchange Rates, Capital Flows, and Monetary Policy in a Changing World Economy: Proceedings of a Conference Federal Reserve Bank of Dallas Dallas, Texas September 14-15, 1995 / Edition 1

by William C. Gruben, David M. Gould, Carlos E. Zarazaga

Overview

The dramatic growth of international capital flow has provided unprecedented opportunities and risks in emerging markets. This book is the result of a conference exploring this phenomenon, sponsored by the Federal Reserve Bank of Dallas. The issues explored include direct versus portfolio investment; exchange rates and economic growth; and optimal exchange rate policy for stabilizing inflation in developing countries. It concludes with a panel discussion on central bank coordination in the midst of exchange rate instability.

Product Details

ISBN-13:	9781461378310
Publisher:	Springer US
Publication date:	10/04/2012
Edition description:	Softcover reprint of the original 1st ed. 1997
Pages:	242
Product dimensions:	6.10(w) x 9.25(h) x 0.02(d)

Table of Contents

Preface. I. Exchange Rates and Monetary Policy. II. Optimal Exchange Rate Policy for Stabilizing Inflation in Developing Countries. Appendix: Exchange Rate Policy and Macroeconomic Stability. III. Exchange Rates and Economic Growth. Appendix: Description of the Data. IV. Speculative Attacks. Appendix: Foreign Exchange Hedging with Synthetic Options and the Interest Rate Defense of a Fixed-Exchange-Rate Regime; Peter M. Garber, Michael G. Spencer. V. Exchange Rates, Capital Flows, Monetary Policy and a Changing World Economy. VI. International Capital Flows: Direct vs. Portfolio Investment. Appendix A: A Survey of Academic Literature on Controls over International Capital Transactions; Michael P. Dooley. Appendix B: Are Recent Capital Inflows to Developing Countries a Vote For or Against Economic Policy Reforms? Michael P. Dooley. VII. Panel Discussion: Central Bank Coordination in the Midst of Exchange Rate Instability.

Editorial Reviews

the proceedings of the September 1995 conference include six presentations with commentaries and one panel discussion. Coverage includes the broken system of exchange rates and monetary policy; the use of stabilization devices in anti-inflationary programs; how macroeconomic uncertainty about the inflation rate and the real exchange rate affect economic growth; theories about speculative attacks; the role of the dollar as an international currency; international capital flows; and Central Bank coordination in the midst of exchange rate instability (panel discussion). No index. Annotation c. by Book News, Inc., Portland, Or.

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